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The Guardian - AU
The Guardian - AU
National
Peter Hannam Economics correspondent

RBA interest rates: Reserve Bank hikes cash rate by 25 basis points to 4.35%

RBA Interest Rates Michelle Bullock Inflation
The Reserve Bank of Australia headquarters in Sydney. The RBA has decided to lift the key interest rate to 4.35% in a further bid to tame inflation.
The Reserve Bank of Australia headquarters in Sydney. The RBA has decided to lift the key interest rate to 4.35% in a further bid to tame inflation. Photograph: Sergio Dionisio/AAP

Australia’s borrowers have been dealt another blow with the Reserve Bank lifting its key interest rate for the first time in five months to ensure inflation keeps falling.

The RBA board on Tuesday decided to hike its cash rate 25 basis points to 4.35%, a 12-year high. The increase, widely anticipated by economists, was the central bank’s 13th rate rise since May 2022.

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